Climax Portable Machining & Welding Systems has been sold to Industrial Growth Partners

Lincoln International, a leading global mid-market investment bank, today announced that Argosy Private Equity, Horizon Partners and Marquette Capital Partners have sold Climax Portable Machining & Welding Systems (“Climax” or the “Company”) to Industrial Growth Partners (“IGP”) based in San Francisco, California. Terms of the transaction were not disclosed.

Headquartered in Newberg, Oregon, Climax is the leading global manufacturer of portable machine tools and welding systems used in a diverse set of industrial end markets. The Company’s portable systems, which include boring bars, flange facers and automated bore welders are principally used in maintenance, repair and overhaul applications. Climax offers the broadest line of products in the industry, including standard and custom-engineered solutions, parts and accessories and a global rentals business. The Company serves a diverse customer base including equipment OEMs, service providers and end-users in the power generation, mining and construction equipment, shipbuilding and general industrial markets. Climax has a well-established global footprint with production facilities and sales offices in the U.S., Germany, Poland and the U.K.

Lincoln International acted as the exclusive financial advisor to Climax, working closely with Climax’s senior management team and its institutional shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.

Tom Liebermann, Chairman of Climax, commented, “Lincoln International provided consistent, senior-level attention throughout the entire sale process and their established industrial expertise and global platform enabled them to manage a broad sale process that included both strategic and financial investors, which resulted in a positive outcome for all stakeholders. Climax is an innovative and emerging company that is poised to reach the next level globally with the support of its new partnership with IGP.”

Geoff Gilmore, President and CEO of Climax, added “Lincoln International acted as a trusted advisor throughout the change of control process and ultimately helped identify the ideal equity partner for us in IGP. The Climax management team is excited about the opportunity to draw upon IGP’s deep industry experience to help us expand within our existing markets, further penetrate international geographies and pursue add-on acquisitions. We remain committed to providing our customers with exceptional solutions and believe that IGP will be invaluable in offering the operational support and strategic guidance to meet these goals and further capitalize on our numerous growth opportunities.”

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